Question 1

What question is asked in conjunction with the philosophy component of a mission statement?

Accepted Answer

A)   What are the firm's major products or services?
B)   Is the firm committed to growth and financial soundness?
C)   What are the basic beliefs, values, aspirations, and ethical priorities of the firm?
D)   Is the firm responsive to social, community, and environmental concerns?
E)   Are employees a valuable asset of the firm?F) B) and D)
G) D) and E)

Question 2

Which type of statement should be created first and foremost?

Accepted Answer

A)   Creed
B)   Vision
C)   Objectives
D)   Mission
E)   Competitive advantageF) A) and B)
G) B) and C) B

Question 3

Which question(s)  is answered in an effective mission statement?

Accepted Answer

A)   Is the firm committed to growth and financial soundness?
B)   Are employees a valuable asset of the firm?
C)   Geographically, where does the firm compete?
D)   Who are the firm's customers?
E)   All of the above questions are answered in an effective mission statement.F) C) and D)
G) D) and E)

Question 4

When developing a mission statement, it is usually advisable to involve as few managers as possible.

Accepted Answer

A) True 
 B)False

Question 5

The utility statement, "Do not offer me attractive looks; offer me clothes," is relevant in developing a mission statement.

Accepted Answer

A) True 
 B)False

Question 6

AT&T's mission statement focuses on telephones rather than on communication.

Accepted Answer

A) True 
 B)False

Question 7

A mission statement should be broad enough to reconcile differences among an organization's various stakeholders.

Accepted Answer

A) True 
 B)False

Question 8

An effective mission statement should do all of the following EXCEPT

Accepted Answer

A)   include monetary amounts, numbers, percentages and ratios.
B)   be inspiring.
C)   reveal that the firm is environmentally responsible.
D)   identify the utility of a firm's products.
E)   be reconciliatory.F) B) and C)
G) A) and D)

Question 9

All of the following utility statements are relevant in developing a mission statement EXCEPT

Accepted Answer

A)   Do not offer me shoes. Offer me comfort for my feet and the pleasure of walking.
B)   Do not offer me furniture. Offer me comfort and the quietness of a cozy place.
C)   Do not offer me ideas, emotions, ambience, feelings, and benefits. Offer me things.
D)   Do not offer me books. Offer me hours of pleasure and the benefit of knowledge.
E)   Do not offer me a house. Offer me security, comfort, and a place that is clean and happy.F) A) and D)
G) B) and C)

Question 10

The recommended length of an effective mission statement is ________ words.

Accepted Answer

A)   approximately 25
B)   no more than 100
C)   less than 150
D)   at least 300
E)   more than 500F) A) and E)
G) A) and D)

Question 11

According to Campbell and Yeung, an organization's vision is associated with behavior and with the present.

Accepted Answer

A) True 
 B)False

Question 12

The potential for creative growth in an organization can be limited by

Accepted Answer

A)   an overemphasis on stakeholders.
B)   not enough emphasis on stakeholders.
C)   a mission statement that is too general.
D)   a mission statement that is too specific.
E)   a mission statement that is too dynamic.F) D) and E)
G) A) and C)

Question 13

In most cases, at least 500 words are required to effectively state a mission statement.

Accepted Answer

A) True 
 B)False

Question 14

According to Vern McGinnis, a mission statement should define what the organization is and what the organization aspires to be.

Accepted Answer

A) True 
 B)False

Question 15

According to George Steiner, a mission statement should be broad in scope, since concrete specification could be the base for rallying opposition.

Accepted Answer

A) True 
 B)False

Question 16

Good mission statements identify the utility of a firm's products.

Accepted Answer

A) True 
 B)False

Question 17

Research has failed to find a positive relationship between mission statements and organizational performance.

Accepted Answer

A) True 
 B)False

Question 18

The ideal length of a vision statement is

Accepted Answer

A)   one page.
B)   several paragraphs.
C)   one sentence.
D)   several sentences.
E)   as long as is necessary to convey the message.F) D) and E)
G) A) and C) C

Question 19

Stakeholders both affect and are affected by an organization's strategic decisions.

Accepted Answer

A) True 
 B)False  True

Question 20

In multidivisional organizations, each division should develop a mission statement consistent with and supportive of the corporate mission.

Accepted Answer

A) True 
 B)False

Exam 2: The Business Vision and Mission

What question is asked in conjunction with the philosophy component of a mission statement?

Correct AnswerverifiedShow Answer

Which type of statement should be created first and foremost?

Correct AnswerverifiedB

Which question(s) is answered in an effective mission statement?

Correct AnswerverifiedShow Answer

When developing a mission statement, it is usually advisable to involve as few managers as possible.

Correct AnswerverifiedShow Answer

The utility statement, "Do not offer me attractive looks; offer me clothes," is relevant in developing a mission statement.

Correct AnswerverifiedShow Answer

AT&T's mission statement focuses on telephones rather than on communication.

Correct AnswerverifiedShow Answer

A mission statement should be broad enough to reconcile differences among an organization's various stakeholders.

Correct AnswerverifiedShow Answer

An effective mission statement should do all of the following EXCEPT

Correct AnswerverifiedShow Answer

All of the following utility statements are relevant in developing a mission statement EXCEPT

Correct AnswerverifiedShow Answer

The recommended length of an effective mission statement is ________ words.

Correct AnswerverifiedShow Answer

According to Campbell and Yeung, an organization's vision is associated with behavior and with the present.

Correct AnswerverifiedShow Answer

The potential for creative growth in an organization can be limited by

Correct AnswerverifiedShow Answer

In most cases, at least 500 words are required to effectively state a mission statement.

Correct AnswerverifiedShow Answer

According to Vern McGinnis, a mission statement should define what the organization is and what the organization aspires to be.

Correct AnswerverifiedShow Answer

According to George Steiner, a mission statement should be broad in scope, since concrete specification could be the base for rallying opposition.

Correct AnswerverifiedShow Answer

Good mission statements identify the utility of a firm's products.

Correct AnswerverifiedShow Answer

Research has failed to find a positive relationship between mission statements and organizational performance.

Correct AnswerverifiedShow Answer

The ideal length of a vision statement is

Correct AnswerverifiedC

Stakeholders both affect and are affected by an organization's strategic decisions.

Correct AnswerverifiedTrue

In multidivisional organizations, each division should develop a mission statement consistent with and supportive of the corporate mission.

Correct AnswerverifiedShow Answer

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B

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C

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True

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